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bija089 [108]
3 years ago
11

Amber's employer, Lavender, Inc., has a § 401(k) plan that permits salary deferral elections by its employees. Amber's salary is

$99,000, and her marginal tax rate is 24% and she is 42 years old.a. What is the maximum amount Amber can elect for salary deferral treatment for2019?
Business
1 answer:
Mila [183]3 years ago
3 0

Answer:

For 2019, the maximum amount that any individual can elect for salary deferral treatment on a 401k distribution is the lesser between: 100% of their salary or $19,000.

in this case, Amber earns much more than $19,000, so the lesser amount would be $19,000.

If Amber contributes more than $19,000 to her 401k account, then she would have to pay taxes for the extra amount contributed.

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koban [17]

Answer:

Monthly installment= $168.77

Explanation:

<em>Loan amortization is a loan repayment arrangement where a loan is repaid using a series of equal installments over the years of the loan. Each installment covers the interest due and a portion of the principal balance </em>

The monthly installment = Loan amount/monthly annuity factor

<em>Annuity factor = (1 - (1+r)^(-n))/r) </em>

r - monthly interest rate, n- number of months

Monthly interest rate = 6%/12= 0.5%

Number of months = 15× 12 = 180

Annuity factor = ( 1-(1.005)^(-180))/0.005

= 118.50

Monthly installment = 20,000/168.771

= $168.77

Answer:

Monthly installment= $168.77

3 0
2 years ago
The advantage to savers and investors of receiving compound interest rather than simple interest is that future values are large
Maru [420]

Answer:

B. false

Explanation:

over time it becomes larger because you are bringing in more money from interest sitting there

3 0
2 years ago
The johnsons are in an auto accident with a driver who lives near them in the same town. no one is injured and the johnsons' car
jek_recluse [69]

The Johnson's can't sue the driver in the Federal Court because the Johnson's live in the same state (since the driver lives near the Johnson's in the same time) and the damages ($5,000.00) are too small.  

6 0
3 years ago
Buying office space is ______________ in the long run-in comparison to leasing. Which is the correct answer?
Vedmedyk [2.9K]

Answer:

less expansive

Explanation:

i took the test. i got it right

5 0
2 years ago
A privately owned summer camp for youngsters has the following data for a 12-week session: Charge per camper Fixed costs Variabl
shtirl [24]

Answer:

Results are below.

Explanation:

Giving the following information:

Fixed costs= $192,000

Unitary variable cost= $320 per week

Selling price per unit= $480 per week

<u>To calculate the total cost, we need to use the following formula:</u>

Total cost= fixed costs + unitary variable cost*number of units

Total cost= 192,000 + 320*number of weeks

<u>Now, the total revenue:</u>

Total revenue= selling price per week*Number of weeks

Total revenue= 480*x

<u>Finally, the break-even point in units:</u>

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 192,000 / (480 - 320)

Break-even point in units= 1,200 campers

3 0
2 years ago
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